As indicated by A, the FBM KLCI rebounded 7.79 points or 0.49% to close at 1601.89 points, while stays above the 14, 21, 31 EMA dynamic support as well as the L2 uptrend line. Resistance for the KLCI remains at 1609-1611.

As indicated by B, total market volume increased 12.65%, with volume staying above the 40-day Volume Moving Average. Technically, if volume could continue to increase, the market sentiment as a whole is expected to improve.

As circled at C, the MACD histogram is still falling, thus no Rounding Bottom is sighted yet. This suggests that the KLCI is still in its consolidation stage.

In conclusion, with the KLCI above the 14, 21, 31 EMA, the immediate technical outlook for the KLCI is still positive. Actually, it is not difficult for the KLCI to break above 1611, but in order to sustain its uptrend, investors confidence would have to continue to improve, and this will be reflected in the increased of volume with increase of price. Also, the KLCI would have to repeatedly forming higher-Lows, which is the characteristic of an uptrend.